How to Know if You Are Financially Ready to Get Married

Updated: December 18, 2023

Getting married is a major life decision. Apart from the changes in lifestyle that marriage brings, it also has a big impact on a person’s financial state.

As such, it is important to have these four considerations, to determine if one is already financially ready to tie the knot and start a family.

Are you both financially mature?

To be financially mature does not mean you are both wealthy, it’s far from it actually. It simply means that both of you are open and willing to talk to each other about money.

I’ve met couples who don’t like talking about their finances with each other. Most would just let one spouse handle all the budgeting and financial decisions.

This is wrong in my opinion. Money issues are often a source of stress in a relationship. And when financial problems arise, couples should be mature enough to work together in finding a solution.

Have you talked about each other’s financial status?

Marriage will tie both your assets and liabilities. Thus, it is important, to be honest with each other regarding your income, and most especially, your outstanding debts.

Talk about each other’s money habits as well. Who’s the saver? Who’s the spender? What are the things you’ll do as a couple to live within your means?

Furthermore, discuss each other’s family. Does anyone have a financially dependent parent, sibling, or relative? If so, how will this affect and fit into your cash flow?

This is a good test of each other’s financial maturity, as both must be willing to lay all their cards. Doing so will help you avoid a lot of financial arguments and disagreements in the future.

Can you afford to get married?

During your financial discussions, do a simulation of your cash flow starting from today until your first wedding anniversary. This is the best way to see if you can afford to get married.

This exercise will help you get clarity, especially on how much you can afford to spend on the wedding. You will also get a realistic view of what kind of life you’ll have as a couple immediately after.

Furthermore, one excellent way to know if you can afford to get married is to study your individual cash flow. If both of you can save at least 10% of your income, then that’s a good sign.

Do you already have a financial plan?

A lot of couples spend so much time and money preparing for their wedding, but fail to plan for their marriage, which is more important.

Discuss and plan for what will happen after the honeymoon. Both of you must be on the same page when it comes to how you want your future to be.

Are you going to buy a house immediately? Or rent a place? Or perhaps live with the in-laws first? When do you plan to have a baby? How many children do you want to have?

While the future is uncertain, it’s still better to have concrete financial goals for the next 2-3 years. You can always adjust and revise your plans as you adapt to your new life as a couple. Best wishes and congratulations!

What to do next: Click here to start your financial journey with IMG Wealth Academy


  1. In my opinion its very important to discuss each others financial status before getting married. Also make sure you don’t have any outstanding debts. Because it will be harder to repay the debts if more expenses come in.

  2. OH YEAH, we had the talk well before I popped the question to Beautiful Bride. My future wife earned great money but I soon learned that her soft heart for others dragged her down. She was often stuck paying for a loan that helped an unappreciative beggar/borrower. Over time we put in place rules for helping that allow generosity but will NOT cross the line and put us under.

    In the US we often say that the taboo subjects are politics and religion because many folks will get into a severe argument discussing those subjects. Well, MONEY and SPENDING should be on the table long before you start deciding where the honeymoon will be. I honestly believe that a couple that can not do this will, most likely, be doomed with every crisis, relatives needing assistance and uncontrolled excessive spending habits. Clear the air first and enjoy peace in the home because you are in agreement and truly of one mind.

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